3 KEY TAKEAWAYS FROM SWITZERLANDS NEW STABLECOIN GUIDELINES

Last updated: June 19, 2025, 19:20 | Written by: Raoul Pal

The world of cryptocurrency is constantly evolving, and with it, the regulatory landscape.Stablecoins, cryptocurrencies designed to maintain a stable value relative to a reference asset like the US dollar or gold, have become increasingly popular.This rise in prominence has prompted regulatory bodies worldwide to take a closer look, and Switzerland is no exception.As a leading financial hub and a pioneer in embracing blockchain technology, Switzerland's approach to regulating stablecoins is particularly noteworthy.The Swiss Financial Market Supervisory Authority (FINMA) recently published updated guidelines that offer crucial insights into their stance on these digital assets.

These new guidelines, building upon previous pronouncements, provide much-needed clarity for stablecoin issuers and financial institutions operating within Switzerland.This updated guidance isn't just relevant for those within Swiss borders; it sets a potential precedent for other jurisdictions grappling with similar regulatory challenges. 來自瑞士新Stablecoin指南的3個關鍵要點發表於 2025年9月11日星期三下午 9: 瑞士金融市場監管局（FINMA）已經發布了一項以穩定幣為中心的補充資料，以補充其現有的初始硬幣供應指南（ICO）。Understanding these guidelines is crucial for anyone involved in the cryptocurrency space, whether you're an investor, a developer, or simply interested in the future of digital finance.

So, what are the key takeaways from Switzerland's new stablecoin guidelines?This article will break down the three most important aspects, providing a comprehensive overview of FINMA's approach to stablecoin regulation.We'll explore the implications for businesses, discuss the focus on anti-money laundering (AML), and delve into the specific requirements for banks involved in the stablecoin ecosystem.Let's dive in and unravel the complexities of Swiss stablecoin regulation.

Understanding FINMA's Approach to Stablecoin Classification

One of the most important aspects of the new guidelines is how FINMA classifies stablecoins. Skip to main content Bitcoin Insider. MenuThis classification directly impacts the regulatory requirements that apply to each type.FINMA doesn't treat all stablecoins equally; instead, it assesses them based on their economic function and underlying risks.This principles-based approach allows for flexibility while ensuring that similar risks are subject to similar regulatory oversight.The key here is ""same risks, same rules.""

FINMA considers factors such as the mechanism used to maintain stability, the rights of stablecoin holders, and the issuer's business model. Switzerland s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to its existing guidelines for initial coin offerings (ICOs). by CointelegraphFor instance, a stablecoin pegged to a fiat currency and backed by reserves held in a bank account will likely be treated differently from a stablecoin that relies on algorithmic mechanisms to maintain its value.This tailored approach demonstrates FINMA's commitment to adapting its regulatory framework to the specific characteristics of each stablecoin project.

Key Considerations for Classification

When assessing a stablecoin, FINMA pays close attention to the following:

Underlying Asset: What asset is the stablecoin pegged to? 3 Key Takeaways From Switzerland s New Stablecoin Guidelines. 3 Key Takeaways From Switzerland s New Stablecoin Guidelines. Breaking News . Quotes. All Instrument Types.Is it a fiat currency, a commodity, or another cryptocurrency? 本文来自 Cointelegraph，原文作者：Marie Huillet. Odaily 星球日报译者The nature of the underlying asset significantly influences the perceived risk.
Stability Mechanism: How is the stablecoin's value maintained?Is it backed by reserves, or does it rely on algorithms or other mechanisms? With the rise of stablecoins as a prominent financial instrument, FINMA's new rules aim to clarify legal classifications, enforce anti-money laundering (AML) measures, and outline the specific requirements for Swiss banks involved in stablecoin transactions.The robustness of the stability mechanism is a crucial factor.
Rights of Holders: What rights do stablecoin holders have? Im Rahmen der Mitteilung best tigt die Aufsichtsbeh rde ebenfalls, dass der Social-Media-Konzern Facebook die FINMA um eine Einsch tzung zum firmeneigenen Stablecoin Libra gebeten hat. Gleiche Risiken, gleiche Regeln. Wie die FINMA in ihrer Mitteilung eingangs erw hnt, behandelt sie Stablecoins wie jede andere Kryptow hrung.Can they redeem the stablecoin for the underlying asset?The rights of holders impact the level of protection they receive under the regulatory framework.
Issuer's Business Model: How does the issuer generate revenue?Is the stablecoin used for payments, lending, or other purposes? (ii) Consultation Paper on the Proposed AML/CFT Requirements for Regulated Stablecoin Activities (available here). This KWM article provides an overview of the key takeaways from the Stablecoin Consultation Documents. The HKMA is inviting comments on the Stablecoin Consultation Documents until .The issuer's business model can affect the overall risk profile.

By carefully evaluating these factors, FINMA determines the appropriate regulatory treatment for each stablecoin project. In a news release published on Sept. 11, FINMA takes note of the steadily proliferating issuance of stablecoins since mid-2025, as well as confirming that the Geneva-based Libra Association had sought an assessment by FINMA for its Facebook s stablecoin project under Swiss law.This classification process is crucial for ensuring that stablecoins are used responsibly and do not pose a threat to financial stability.

The Focus on Anti-Money Laundering (AML) Compliance

Another significant takeaway from the new guidelines is the enhanced emphasis on anti-money laundering (AML) compliance. Switzerland s financial watchdog has published stablecoin guidelines as well as an overview of its approach to Facebook s proposed Libra payments network. Switzerland s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to its existing guidelines for initial coin offerings (ICOs). In a news release published on Sept. 11, FINMA takes note of theStablecoins, like other cryptocurrencies, have the potential to be used for illicit activities such as money laundering and terrorist financing. スイスの規制当局である金融市場監督局（FINMA）は11日、フェイスブックの仮想通貨リブラなど、ステーブルコインの取り扱いについて、ガイドラインを発表した。FINMA is determined to mitigate these risks by implementing robust AML measures for stablecoin issuers and participants.

The guidelines clarify that stablecoin issuers are subject to the same AML obligations as other financial intermediaries.This includes implementing know-your-customer (KYC) procedures, monitoring transactions for suspicious activity, and reporting suspicious transactions to the authorities.In essence, stablecoin operators need to act as gatekeepers to the financial system, preventing criminals from using these digital assets to launder money.

Specific AML Requirements for Stablecoin Issuers

FINMA expects stablecoin issuers to implement the following AML measures:

Know Your Customer (KYC): Verify the identity of all customers before allowing them to use the stablecoin. 3 Key Takeaways From Switzerland s New Stablecoin Guidelines Septem Bitcoin, Cryptocurrency, Cryptocurrency News, Bitcoin, Cryptocurrency, Cryptocurrency NewsThis typically involves collecting personal information, such as name, address, and date of birth, and verifying it against official documents.
Transaction Monitoring: Monitor all transactions for suspicious activity.This includes looking for unusual patterns, large transactions, and transactions involving high-risk jurisdictions.
Suspicious Activity Reporting (SAR): Report any suspicious activity to the authorities.This is a legal obligation for financial intermediaries and a crucial tool for combating money laundering.
Ongoing Due Diligence: Continuously monitor customers and transactions for changes in risk profile. On, the Swiss Financial Market Supervisory Authority (FINMA) released its FINMA Guidance 06/2025 . Therein FINMA provides additional guidance for projects seeking to issue stablecoins and for banks providing default guarantees for issuers of stablecoins.This ensures that AML measures remain effective over time.
Compliance Program: Establish a comprehensive AML compliance program that includes policies, procedures, and training for employees.This demonstrates a commitment to AML compliance and helps to prevent violations.

These AML requirements are designed to prevent stablecoins from being used for illicit purposes and to maintain the integrity of the financial system. The new FINMA guidance, released on J, addresses the questions frequently arising regarding the issuance of stablecoins in Switzerland. It builds on an initial notes from 2025 that outlines how the regulator treats stablecoins under Swiss supervisory law.Stablecoin issuers who fail to comply with these requirements risk facing sanctions from FINMA.

Implications for Banks Providing Default Guarantees

The third key takeaway revolves around the role of Swiss banks in the stablecoin ecosystem, specifically concerning default guarantees. Switzerland's financial watchdog issues new stablecoin guidelines, outlines its requirements for the Libra Association's proposed stablecoin payments network Continue reading 3 Key TakFINMA's guidance outlines specific requirements for banks providing default guarantees for stablecoin issuers. Switzerland s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to its existing guidelines for initial coin offerings (ICOs).A default guarantee essentially assures that if the stablecoin issuer cannot meet its obligations, the bank will step in to cover the losses.This adds a layer of security and credibility to the stablecoin project, but it also exposes the bank to significant risk.

FINMA recognizes the potential risks involved and has established clear guidelines to ensure that banks adequately manage these risks.These guidelines focus on capital requirements, risk management procedures, and transparency.Banks providing default guarantees must hold sufficient capital to cover potential losses, implement robust risk management procedures to assess and mitigate the risks, and be transparent about the nature and extent of their guarantee obligations.

Capital Requirements and Risk Management

The capital requirements for banks providing default guarantees are determined based on the specific risks associated with the stablecoin project. The Swiss Financial Market Supervisory Authority FINMA today published guidance on the issuance of stablecoins. In it, it comments on default guarantees, the associated risks and discloses its practice on stablecoins. It further draws attention to the increased risks in the area of money laundering.Factors such as the size of the guarantee, the volatility of the underlying asset, and the creditworthiness of the stablecoin issuer are all taken into consideration.The goal is to ensure that the bank has sufficient capital to absorb potential losses without jeopardizing its financial stability.

In addition to capital requirements, banks must also implement robust risk management procedures.This includes:

Due Diligence: Thoroughly assess the stablecoin issuer's business model, financial condition, and regulatory compliance.
Risk Assessment: Identify and assess the key risks associated with the stablecoin project, such as market risk, credit risk, and operational risk.
Risk Mitigation: Implement measures to mitigate the identified risks, such as collateralization, hedging, and diversification.
Monitoring: Continuously monitor the stablecoin project's performance and compliance to identify and address any emerging risks.

By implementing these risk management procedures, banks can protect themselves from potential losses and ensure the stability of the stablecoin ecosystem.

Switzerland's Global Impact on Stablecoin Regulation

Switzerland's approach to stablecoin regulation has implications far beyond its borders.As a leading financial center with a reputation for innovation, Switzerland's regulatory decisions often influence other jurisdictions. Em um comunicado de imprensa publicado em 11 de setembro, a FINMA toma nota da emiss o cada vez maior de stablecoins desde meados de 2025, al m de confirmar que a Libra Association, com sede em Genebra, solicitou uma avalia o da FINMA para o projeto de stablecoin do Facebook de acordo com a lei su a. Mesmos riscos, mesmas regrasThe new stablecoin guidelines serve as a model for other countries grappling with the regulatory challenges posed by these digital assets.

FINMA's emphasis on a principles-based approach, its focus on AML compliance, and its specific requirements for banks providing default guarantees are all valuable lessons for other regulators. 3 Key Takeaways From Switzerland s New Stablecoin Guidelines cointelegraph.com, UTC Switzerland s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to its existing guidelines for initial coin offerings (ICOs).By carefully considering these elements, other countries can develop regulatory frameworks that promote innovation while mitigating the risks associated with stablecoins.

Furthermore, Switzerland's engagement with international organizations, such as the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision, helps to promote global coordination and consistency in stablecoin regulation. This KWM article provides an overview of the key takeaways from the Stablecoin Consultation Documents. The HKMA is inviting comments on the Stablecoin Consultation Documents untilThis is crucial for preventing regulatory arbitrage and ensuring that stablecoins are subject to appropriate oversight worldwide.

Examples of Stablecoins and Potential Classifications

To further illustrate FINMA's approach, let's consider a few examples of stablecoins and how they might be classified under the new guidelines:

Fiat-Collateralized Stablecoins (e.g., USDT, USDC): These stablecoins are pegged to a fiat currency, such as the US dollar, and backed by reserves of that currency held in a bank account. Newly Published-From Switzerland's New Stablecoin Guidelines, 3 Key Takeaways Switzerland s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to itsFINMA would likely classify these as payment tokens, subject to AML requirements and potentially requiring a banking license depending on the scale and nature of the operation.The key consideration is the quality and security of the reserves.
Crypto-Collateralized Stablecoins (e.g., DAI): These stablecoins are backed by other cryptocurrencies.Due to the volatility of cryptocurrencies, these stablecoins often require over-collateralization. 220K subscribers in the altcoin community. /r/Altcoin is one of Reddit's original cryptocurrency subreddits, started 8 years ago. Altcoins areFINMA would likely assess the stability mechanism and the risks associated with the underlying collateral when classifying these stablecoins.They might be considered as asset tokens, subject to specific regulations depending on the underlying assets.
Algorithmic Stablecoins: These stablecoins use algorithms to maintain their value. The Swiss Financial Market Supervisory Authority (FINMA) has introduced new regulatory guidelines targeting stablecoin projects to ensure financial stability and compliance. This move addresses the growing concerns over the regulatory challenges and financial risks posed by stablecoins.They are often not backed by any reserves and rely on market incentives to maintain stability. Menu. Home; Bitcoin Chart; Cryptocurrency News; Live PricesFINMA would likely scrutinize the algorithm's effectiveness and the risks associated with potential failures.Depending on their structure and function, they could face stricter regulations or even be prohibited if deemed too risky.

These examples demonstrate the importance of FINMA's tailored approach to stablecoin regulation. 3 Key Takeaways From Switzerland s New Stablecoin Guidelines Buy, Sell, Trade Bitcoin with Credit Card 100 Cryptocurrencies @ BEST rates from multiple sources, Wallet-to-Wallet, Non-Custodial! 3 Key Takeaways From Switzerland s New Stablecoin GuidelinesBy carefully considering the specific characteristics of each stablecoin project, FINMA can ensure that the appropriate regulatory requirements are applied.

Common Questions About Switzerland's Stablecoin Regulations

Here are some common questions regarding Switzerland's new stablecoin guidelines:

What is a stablecoin? A stablecoin is a type of cryptocurrency designed to maintain a stable value relative to a reference asset, such as the US dollar or gold.
Why is FINMA regulating stablecoins? FINMA regulates stablecoins to protect investors, maintain financial stability, and prevent money laundering and terrorist financing.
What are the key takeaways from the new guidelines? The key takeaways are the classification of stablecoins, the focus on AML compliance, and the requirements for banks providing default guarantees.
How does FINMA classify stablecoins? FINMA classifies stablecoins based on their economic function and underlying risks.
What are the AML requirements for stablecoin issuers? Stablecoin issuers must implement KYC procedures, monitor transactions for suspicious activity, and report suspicious transactions to the authorities.
What are the requirements for banks providing default guarantees? Banks must hold sufficient capital, implement robust risk management procedures, and be transparent about their guarantee obligations.
How does Switzerland's approach compare to other countries? Switzerland's approach is considered to be relatively progressive and balanced, promoting innovation while mitigating risks.
What are the potential implications for the future of stablecoins? The new guidelines could help to promote the responsible development and adoption of stablecoins.

The Future of Stablecoins in Switzerland

The future of stablecoins in Switzerland looks promising, thanks to FINMA's clear and comprehensive regulatory framework. 瑞士金融市场监管局（finma）已经发布了一项以稳定币为中心的补充资料，以补充其现有的初始硬币供应指南（ico）。在9月11日发布的新闻稿中，finma注意到自2025By providing clarity and certainty, the new guidelines can encourage innovation and investment in the stablecoin space. On, the Swiss Financial Market Supervisory Authority (FINMA) published a new Guidance 06/2025 on stablecoins, which covers the development of its practice and focuses on the classification of stablecoins, anti-money laundering regulations and banking guarantees issuance/requirements.Switzerland is positioning itself as a leading hub for stablecoin development and adoption.

However, challenges remain.The cryptocurrency landscape is constantly evolving, and FINMA will need to adapt its regulatory framework to keep pace with new developments.The rise of decentralized finance (DeFi) and the emergence of new types of stablecoins will require ongoing attention and potentially further regulatory adjustments.

Despite these challenges, Switzerland's commitment to innovation and its strong regulatory framework make it well-positioned to be a leader in the stablecoin space. Switzerland s financial watchdog has published stablecoin guidelines as well as an overview of its approach to Facebook s proposed Libra payments network. Switzerland s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to its existing guidelines for initial coin offerings ( ICOs ).The new guidelines represent a significant step forward in creating a safe and sustainable ecosystem for stablecoins.

Conclusion: Key Takeaways and Actionable Advice

Switzerland's new stablecoin guidelines represent a significant step towards a more regulated and mature digital asset landscape.By focusing on clear classification, robust AML measures, and responsible bank involvement, FINMA is setting a precedent for other jurisdictions to follow.Here are the 3 Key Takeaways From Switzerland's New Stablecoin Guidelines:

Classification Matters: Understand how FINMA classifies stablecoins based on their economic function and underlying risks.This classification will determine the specific regulatory requirements that apply to your project.
AML Compliance is Crucial: Implement robust AML measures to prevent stablecoins from being used for illicit activities.This includes KYC procedures, transaction monitoring, and suspicious activity reporting.
Banks Face Specific Requirements: If you're a bank providing default guarantees for stablecoin issuers, ensure you meet FINMA's capital requirements, risk management procedures, and transparency obligations.

If you are considering launching a stablecoin project in Switzerland or working with Swiss banks in the stablecoin space, it is essential to carefully review the new guidelines and seek legal advice to ensure compliance.By understanding and adhering to these regulations, you can contribute to the responsible development and adoption of stablecoins.The future of digital finance is being shaped now, and Switzerland is playing a key role.Stay informed, stay compliant, and embrace the opportunities that stablecoins offer.Consider consulting with legal professionals specializing in Swiss financial regulations to ensure full compliance.Further research and engagement with the FINMA guidelines are crucial for navigating this evolving landscape.

Are you ready to explore the opportunities in the stablecoin space?The first step is understanding the regulatory landscape.Contact a legal professional today to ensure compliance with Switzerland's new stablecoin guidelines and unlock the potential of this exciting technology.